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rachel3430 rachel3430
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5 years ago
If the dollar/pound exchange rate is $2/, a Big Mac costs $5 in New York City and costs 4 in London, the pound is ________, and U.S. tourists will be ________.
A) overvalued; better off in London
B) overvalued; better off in New York
C) undervalued; better off in London
D) undervalued; better off in New York
Textbook 
International Economics

International Economics


Edition: 7th
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sg000sg000
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5 years ago
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